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Merkel tells MPs to 'do the right thing' on euro bailouts

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Merkel tells MPs to 'do the right thing' on euro bailouts


German Chancellor Angela Merkel has urged fellow legislators to back a larger EU bailout fund for the bloc’s troubled economies.

The Bundestag will vote on new powers for the European Financial Stability Facility to buy government bonds and help loan money to countries in need.

Merkel warned in a Sunday night television interview failure to avert a euro zone default would lead to an evaporation of investor confidence in the single currency area.

She said if Greece fails to meets its obligations then it could trigger a domino effect.

She told MPs that “they must do the right thing and be for Europe and for the euro.”

Merkel’s coalition partners, the Free Democrats are against granting new powers to the EFSF. The chancellor insists she will not need opposition support to see the changes passed.

Andrea Nahles, the secretary general of the left wing Social Democrats, said Merkel would be seriously weakened if that turned out to be the case.

“Mrs Merkel cannot govern in the long-run without her own majority,” she said.

A second EU-IMF bailout was agreed to help Greece in July of this year but that still has to be ratified by MPs in a number of the 17 countries that use the single currency.

But voter surveys suggest that the German public is growing tired of its government’s lead role in bailing out the euro zone’s peripheral economies.

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